November 03, 2014

The Cordish Companies Gains Possession of Waterside Festival Marketplace

Norfolk, VA (November 3, 2014) — The City of Norfolk turned over the keys of the Waterside Festival Marketplace to The Cordish Companies Friday. The Baltimore-based developers will transform this iconic Norfolk landmark into Waterside Live!. Waterside Live! will consist of more than a dozen concepts in over 100,000 square feet of world class dining and entertainment venues. The development will create an estimated 800 new jobs, $93 million in direct revenue over 30 years and $850,000 in parking revenue. “This marks an important milestone in the revitalization of downtown Norfolk,” said Mayor Paul Fraim. “Waterside Live! continues downtown’s transformation into a vibrant regional tourist destination and will serve as a catalyst for further investment in the City.” FRCH Design Worldwide based in Cincinnati, Ohio will lead the design team, which will also include New York City-based Jeffrey Beers International. Construction of Waterside Live! is slated to commence in the Spring of 2015 and open in 2016. “We are incredibly excited to take this important step towards making Waterside Live! a reality,” said Blake Cordish, Vice President of The Cordish Companies. “Our design and construction teams are moving full steam ahead on all aspects of the development to ensure that Waterside Live! quickly takes shape. Waterside Live! will be an outstanding addition to downtown Norfolk and we are thrilled to help transform this iconic destination.”

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